“JPMorgan is one of the best-managed banks there is..." - Prez Obama

[Sam Odom]

Obama said this AFTER the $2B gambling loss and after the Sunday Show in which Jamie Dimon, the head of JPMorgan, said "We know we were sloppy. We know we were stupid. We know that there was bad judgement."


Why would Obama say that?

Maybe:

Obama Has Over $500,000 with JP Morgan Chase

According to just released disclosure forms, President Barack Obama has between $500,000-1,000,000 in assets in a JP Morgan Chase account. The full title of the account, as it's written on the disclosures, is "JPMorgan Chase Private Client Asset Mgmt Checking Account." It is a jointly held account, presumably with First Lady Michelle Obama.

http://www.weeklystandard.com/blogs/obama-has-over-500000-jp-morgan-chase_645021.html

[GamblerSpirit]

Anybody notice Barack Obama doesn't even sound like a well-spoken man anymore? Uhh...uhhh.

[Naz18]

"JPMorgan is one of the best managed banks there is. Jamie Dimon, the head of it, is one of the smartest bankers we got and they still lost $2 billion and counting," Obama said on ABC's "The View," according to a transcript released by the network.


"We don't know all the details. It's going to be investigated, but this is why we passed Wall Street reform," Obama said.


The program was taped on Monday in New York and will air on Tuesday.


Wall Street reform was one of Obama's signature domestic policy achievements, but he has faced opposition in trying to implement and enforce it.


"The whole point was, even if you're smart, you can make mistakes and since these banks are insured, backed up by taxpayers, we don't want you taking risks where eventually we might end up having to bail you out again, because we've done that, been there, didn't like it," Obama said, according to the transcript.

http://www.reuters.com/article/2012/05/15/jpmorgan-obama-idUSL1E8GEHXH20120515

[nosniboR11]

obama is a dumbass Marxist

[Sam Odom]

Another way to look at it...

Maybe TODAY a Bank's Management can be "Stupid" , "Sloppy" and have "Bad Judgement" yet STILL be one of the best-managed banks there is

[Naz18]

Another way to look at it...

Maybe TODAY a Bank's Management can be "Stupid" , "Sloppy" and have "Bad Judgement" yet STILL be one of the best-managed banks there is

How clueless can one get...

[Sam Odom]

How clueless can one get...

yeah... how in the hell did he get elected ?

[McBa1n]

Didn't they make money last year overall, though? Just saying... Although, the conflict of interest is troubling.

[Sam Odom]

Although, the conflict of interest is troubling.

Obama was pulling those superlatives about JPM & Dimon out of his ass - so why?

[King Mayan]

copy and paste dumbass.

[Sam Odom]

Mayan , it is called 'connecting the dots' - and you think (if you can) how about the facts?

just a coincidence i'm sure

[rkelly110]

What's even funnier, the dumb sheep shareholders agreed to keep the CEO on
@ 23m. Isn't that how it is in life? You fck up, instead of getting fired, you get
a raise.

[MC PICKS]

Another disaster on his watch, dodd/frank bill sure is making a difference.

[CWD]

i roll with JT Marlin

[Shaudius]

Didn't they make money last year overall, though? Just saying... Although, the conflict of interest is troubling.

Conflict of interest? He has a checking account. So is your argument that the President can't have a checking account with any bank in case they screw something up? He can't criticize a bank where he has an account? What exactly do you think the conflict is with having your money with a bank you think is well managed(which by all accounts they still are despite this one loss that represents a frankly blip in their total assets which are over a trillion dollars), this would be like your networth being 100k and you losing 200 in the stock market, thats what 2 billion dollars is to JP Morgan Chase.

[Sam Odom]

@ Shaudius


I'm sure Obama would praise Halliburton or Koch Inds or 'Big Oil' if either would have lost $2B in pension funds gambling in derivatives

[Sam Odom]

hey Shaudius , from March 2012


JPMorgan Employees Join Goldman Sachs Among Top Obama Donors

President Barack Obama’s largest campaign donors last month included employees of Wells Fargo & Co., (WFC) JPMorgan Chase & Co. (JPM) and Goldman Sachs Group Inc. (GS), according to an analysis of Federal Election Commission records.


http://www.bloomberg.com/news/2012-0...ma-donors.html

[Shaudius]

@ Shaudius


I'm sure Obama would praise Halliburton or Koch Inds or 'Big Oil' if either would have lost $2B in pension funds gambling in derivatives

"The whole point was, even if you're smart, you can make mistakes and since these banks are insured, backed up by taxpayers, we don't want you taking risks where eventually we might end up having to bail you out again, because we've done that, been there, didn't like it," Obama said, according to the transcript.

That's praise? He is saying, they're smart, but we shouldn't trust them. I'm pretty sure he would also say that the people who run Big Oil are smart but we shouldn't trust them, that's why we need regulations, same with Halliburton.

Someone can absolutely be smart and do a stupid, sloppy thing, like JP Morgan Chase did a few days ago(well really one arm of JP Morgan Chase).

It's kind of like what Benjamin Disraeli said, "Great services are not cancelled not cancelled by one act or by one single error."

[Sam Odom]

If this isnt praise AFTER THE FACT i dont know what is...

"JPMorgan is one of the best managed banks there is. Jamie Dimon, the head of it, is one of the smartest bankers we got..." - Obama

Of course he rambles-on which is his trademark

[Shaudius]

hey Shaudius , from March 2012


JPMorgan Employees Join Goldman Sachs Among Top Obama Donors

President Barack Obama’s largest campaign donors last month included employees of Wells Fargo & Co., (WFC) JPMorgan Chase & Co. (JPM) and Goldman Sachs Group Inc. (GS), according to an analysis of Federal Election Commission records.


http://www.bloomberg.com/news/2012-0...ma-donors.html

But that's not the conflict of interest the article in the OP is talking about and I fail to see why you think that that article would be the article the poster I was responding to was referencing since, you know, the article in the OP suggests a completely different conflict of interest. The article in the OP is suggesting that Obama having bank accounts at JP Morgan Chase is a conflict of interest, when it looks like they're just standard checking accounts that you or I could open, and have no bearing on his policy, or have anything to do with it.

As far as your point about employees of JP Morgan Chase giving Obama money for his campaign being a conflict of interest in this. They are just that employees. As in not the company, as in people who work for the company.

But fine, lets make a little wager right now, I bet you 150 SBR points that Romney will have more campaign contributions this election cycle from employees of the six major US banks than Obama(or hell I would even accept a 150 pt wager for just JP Morgan Chase).

Does that give Romney more of a conflict of interest? You seem to be suggesting that campaign contributions from employees of a company does.

[Shaudius]

If this isnt praise AFTER THE FACT i dont know what is...

"JPMorgan is one of the best managed banks there is. Jamie Dimon, the head of it, is one of the smartest bankers we got..." - Obama

Of course he rambles-on which is his trademark

Yeah rambling on, inserting a but clause, same thing I guess. You're one of the best posters on SBR but you're a ******* idiot.

High praise right? Afterall I called you one of the best posters on SBR, who cares about the rest of my statement?

[Sam Odom]

Shaudius , dont lose your cool... ! You are a good poster , PERIOD!

IMO , you are a borderline Obama apologist/sycophant - But you are also intelligent - strange mixture

[King Mayan]

sammy the intelligent copy and paste poster.

[jbart28]

Don't worry Libtard white apologists, it will all be over one way or another.

1. Voter fraud like that discovered in florida recently of over 180,000 illegal aliens who most likely vote obama which gets him re elected and Greece 2.0 ensues with riots in the streets and dead people everywhere.

2. Voter fraud does not happen and Romney wins and america gets back on track.

[jjgold]

Obama is the dumbest Pres in the histroy of the USA

His whole platform is geared towards poor, lazy and minorities

[King Mayan]

Don't worry Libtard white apologists, it will all be over one way or another.

1. Voter fraud like that discovered in florida recently of over 180,000 illegal aliens who most likely vote obama which gets him re elected and Greece 2.0 ensues with riots in the streets and dead people everywhere.

2. Voter fraud does not happen and Romney wins and america gets back on track.

[ChalkyDog]

Not sure if this is a condemnation on the banking racket, or him pinning for campaign $.

Follow the money, gents.

[ChalkyDog]

Obama is the dumbest Pres in the histroy of the USA

His whole platform is geared towards poor, lazy and minorities

There is a lot of those. Previous admin. guaranteed it. Why not pander to the majority?

Their vote counts just as much as the next guys. Zero!

[jbart28]

Most of the top 5% of tax payers, who pay nearly all the federal income tax, will be renouncing their citizenship and leaving the country. No more free ponies for all the fat, lazy, EBT Card scumbags of this broken nation.

4 more years of Obama will lead to civil unrest and a race war. That is how bad this socialist, marxist, racist has this country now after his hope, change, and full transparency.

[Ryanloop]

Romney has that much money invested in his dressage horses! He has 36 million in debt securities with Goldman Sachs. He has tons of money invested in foreign governements. A lot of money in hedge funds. And, he’s got a 100million dollar tax free trust fund for his kids…..
But Obama has a checking account with JP Morgan…. eeek!

Regards

[Sam Odom]

NO ONE... trusts this guy Obama. This is Humiliation - Not even W. Bush got dissed this bad!

WTF is going on in Wash ?


Obama budget defeated 99-0 in Senate

President Obama's budget suffered a second embarrassing defeat Wednesday, when senators voted 99-0 to reject it.

Coupled with the House's rejection in March, 414-0, that means Mr. Obama's budget has failed to win a single vote in support this year.

[MC PICKS]

Dont forget to mention, thats the democratically controlled senate, guy is a complete failure.

[Sam Odom]

Dont forget to mention, thats the democratically controlled senate, guy is a complete failure.

Dem controlled Senate has NOT passed a budget since Obama been Prez...

But... Not one Dem in the US House voted for Obama's budget

[cankid]

Chase made some bad economic decisions, i understand taking chances but what they did seems reckless

[Waterstpub87]

What do you expect from someone who never worked in the private sector his entire life?